Chapter 51 Xiangjiang couldn't chew it, so Gaoli couldn't be that hard, right? !
Li Fuzhen, who came out of the bathroom in her nightgown, quietly saw Zhang Junfeng who was still on the phone, and couldn't help but feel curious. However, when she heard the last few sentences of their conversation, she quickly discovered the key point and was quite surprised.
Zhang Junfeng saw that his "secret" was guessed by this woman, and he did not deny it. He pulled her into his arms and said with a smile, "Yes, of course I won't miss this opportunity to 'make money'! And if I want to have a grand wedding at the end of the year, I have to spend more money on preparations!"
"My dear, you don't want your wedding at the end of the year to be too shabby and make people laugh at you, right?" Zhang Junfeng raised the corners of his mouth. He had a "legitimate" reason this time, and he didn't believe that this woman could find any fault with him!
"...Dad and the others have already made arrangements for the wedding, so you don't need to prepare for it. But since you've made the money, just keep it for your own business..." Hearing Zhang Junfeng say that he was raising funds for the wedding, Li Fuzhen felt warm in her heart and was quite benefited by Zhang Junfeng's words.
Zhang Junfeng felt the emotions of the beautiful woman in his arms and said with a smile, "It's better to be prepared! Even if I can't use it at the wedding, I can use it to prepare a 'special' gift for you!"
Seeing Zhang Junfeng's sincere smile, Li Fuzhen was also infected, with a happy smile on her face! Thinking of the moment when the two met, I have to say that fate is a very wonderful thing~!
At the beginning, she used and despised Zhang Junfeng more, but as they got along later, she gradually discovered that this man was far from what he seemed. Under the mask of a playboy and a spendthrift, he was a master investor who had his own unique insights into many things.
Even during the period after the engagement, when they were together day and night, she really fell in love with this man who often teased her, but would protect her from the wind and rain and stand up for her at critical moments! Zhang Junfeng couldn't help but breathe a sigh of relief when he saw that he was not being made difficult by Li Fuzhen. There were some things he didn't want to explain too much. If Li Fuzhen was moved by sympathy and revealed it to Li Jianxi or others, there was no guarantee that there would be some changes in the subsequent plans! ...
Just as Zhang Junfeng had expected, after the Hang Seng stock market had experienced several days of continuous plunge, the Hong Kong officials finally could not sit still and took action themselves!
In order to successfully protect the market and repel the aggressive international speculators, the Hong Kong government sold US dollars in the market through foreign exchange funds to absorb Hong Kong dollars; on the other hand, it publicly announced a temporary interest rate hike, with the prime rate raised from 8.75% to 9.5%! Under the dual measures, the foreign exchange market soon had a strong response, and the exchange rate of the Hong Kong dollar quickly rebounded to a high of 7.5:1, and remained relatively stable for a long period of time! This caused heavy losses to the international speculators who were completely unexpected! It was originally thought that in the face of such a fierce offensive, the Hong Kong side should be outnumbered and beaten back! I never expected that the Hong Kong government would do this and teach them a hard lesson! Leon John, who was lucky enough to cash out and land safely with a lot of profits, was also lucky to see the subsequent development of the situation. If he had not followed Zhang Junfeng's instructions, the windfall he earned from shorting the Hang Seng Index would have been deeply trapped! ...
Hong Kong's tenacious resistance made many international speculators feel frustrated for the first time! Of course, financial institutions led by Soros and Quantum Fund would never give up easily!
Since they can't take over Hong Kong, which has more than 90 billion US dollars in foreign exchange reserves, what about other countries and regions? Can they be so tough? !
They soon locked onto a new target on the map of Asia - Korea, one of the four Asian tigers!
Under the manipulation of a number of financial institutions, the impact of the financial crisis continued to ferment and expand in Asia. Even many foreign investors, under the hints and instigations of financial institutions, sold their Korean assets and even exchanged the Korean won for the international currency US dollar, which also caused the Korean won exchange rate, which was not very strong, to fall rapidly in a very short period of time!
On November 17, the exchange rate of the Korean won had fallen for two consecutive days (exceeding the 2.25% floating range stipulated by the Korean government). Under pressure, the Korean central bank had to give up intervening in the exchange rate of the Korean won.
On November 18, the won-dollar exchange rate fell from 989 won to 1012 won, a drop of 2.32%. On November 19, Mr. Kim Young-sam accepted the resignation of Jiang Qingzhi, the president of the Ministry of Finance and Economics, and his senior assistant, and the financial market in Goryeo suddenly went out of control!
After the opening of the Korean Financial Foreign Exchange Market that day, the won dropped by 23 won again, a drop of 2.27%, breaking the limit of the won’s daily fluctuation of no more than 2.25%! …
In order to stabilize the exchange rate, Mr. Yongsan and the Blue House tried to use the limited 30 billion US dollars (foreign exchange reserves) to raise the won exchange rate. However, faced with the extremely large number of sell-offs and short-selling, they were completely powerless to deal with the crisis. Soon, Goryeo's foreign exchange reserves were exhausted! Without the support of the Blue House, the won exchange rate completely collapsed! Although currency depreciation is beneficial to exports, the rapid depreciation and the plummeting value of goods are also a disaster for Goryeo! In addition, currency depreciation has triggered serious inflation. Exports have been affected, factories have been closed on a large scale, many people are already facing unemployment, and their lives are difficult to sustain. Under inflation, prices have soared, and ordinary people are even more desperate!
Faced with such a miserable situation, Mr. Yongsan and the Blue House could not come up with a solution for a while. You know, the money of domestic banks has long been borrowed by those large and medium-sized enterprises, and now with the bankruptcy of these enterprises, the loans have become bad debts and cannot be recovered at all.
(Note: As of 1996, the debt ratio of Five Star was as high as 267.1%, and the net profit margin was only 0.2%. For example, the debt ratio of Hyundai Group was 436.7%, the debt ratio of LG Group was 346.5%, and the debt ratio of Daewoo Group was over 400%...) The Blue House also tried to seek help from financial institutions in Japan and friendly European and American countries. However, the result was even more disappointing.
These financial institutions all chose to stand idly by as Goryeo, which was on the verge of collapse, had no intention of offering any help!
Others may not be aware of this, but as colleagues in the financial industry, they all know very well that the reason these international speculators can mobilize so much capital in a short period of time is all thanks to the "big backer" behind them - the United States!
(End of this chapter)